Not sure i can really believe this one
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The accompanying argument here is just saying expensive oil is pushing us into a recession. No idea why the author decided to write it out so abstractly.
Not sure you can really use the spot price of oil to determine when we reach the breaking point. I read an interesting article about a month ago that said spikes in the oil price are better indicators. This makes sense. People can adjust to a relatively slow but steady rise much better than a sudden shock to the system.
There was no absolute set in stone spike value. As a general rule the author noted an 80% YoY increase in oil prices just about guarantees a recession.
The TEA PARTY is causing the recession. The tree-humping carbon-petrified car-hating gun-banning androgynous single-sex progressive democrats have figured it out already.